Resistant AI, a Prague, Czech Republic-based artificial intelligence (AI) and machine learning security company that protects financial services from financial crime, raised an additional $11 million from Notion Capital, bringing the company’s total Series A round to $27.6 million.
Resistant AI aims to protect financial services institutions from financial crime by safeguarding their onboarding and transaction systems against malicious attacks.
The new investment will be utilized to expand its product offerings, team, and geographical presence.
Martin Rehak, CEO and Founder of Resistant AI, said, “The transition from traditional finance to fintech has brought creativity and opportunities for customers, but there has been an accompanying rise in criminals exploiting these new services. The old methods of fighting financial crime cannot keep up, and Resistant AI’s unique application of machine learning successfully tackles these ever-changing threats.”
Rehak continued, “With this investment from Notion Capital, we are able to build on this success and bring our solution to more institutions in the face of these increasingly pernicious threats. We are excited to be working with Notion Capital, particularly because of their expertise and track record in successfully growing computer security companies.”
Company: Resistant AI s.r.o.
Raised: $11.0M
Round: Series A Extension
Funding Month: June 2023
Lead Investors: Notion Capital
Additional Investors: GV, Index Ventures, Credo Ventures, and Seedcamp
Company Website: https://resistant.ai/
Software Category: Fraud Detection and Prevention
About the Company: Founded in 2019, Resistant AI provides fraud detection and prevention in automated document processing workflows, transaction monitoring, and identity analysis. The company’s solutions look for anomalies in documents, transactions, serial fraud, synthetic identities, account takeovers, money laundering, and behaviors. This provides a 360-degree view of each customer, which can double the number of threats detected. Resistant AI has already implemented its solutions in numerous banks and fintech companies throughout the customer life cycle. Some of its customers include Dun & Bradstreet, Payoneer, Habito, Planet42, and ComplyAdvantage. With offices in Prague, London, Brussels, and New York, the company has grown its team to over 80 members.
Source: https://resistant.ai/news/resistant-ai-extends-series-a-to-27.6m
a cybersecurity company specializing in artificial intelligence (AI) and machine learning,